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Since all the profits which banks can pay their stock-holders are derived from the interest on the moneys loaned, and since all the coin in the vault ...
... to a weakness dealing with which is the most intricate problem connected with the subject. The source of weakness is this: the bank, in order to make ...
Terms matched: 1  - Score: 71 - URL: http://www.oldandsold.com/articles26/economics-22.shtml

In a primitive state of society every payment of money is made by the payer actually delivering the money into the hands of the payee. In modern merc ...
... form as might be mutually agreed upon. Such is the basis of the banking system now prevalent in all civilized communities. A bank may be defined as primarily ...
Terms matched: 1  - Score: 63 - URL: http://www.oldandsold.com/articles26/economics-21.shtml

In this chapter an explanation of the national-bank note will be presented and, in general terms, its origin and its basis will be described. ...
... 50, are paper currency of a character quite different from the gold and silver certificates previously AUTHORIZING ...
Terms matched: 1  - Score: 47 - URL: http://www.oldandsold.com/articles08/money-7.shtml

In the great financial centres the banks have a system of balancing their accounts, the study of which is instructive to the student of economics, be ...
... us suppose that there are ten banks of deposit in a town. Then, under the system explained in Chapter XIII, each bank will have deposited with it ...
Terms matched: 1  - Score: 35 - URL: http://www.oldandsold.com/articles26/economics-23.shtml

The fifth class, which is the Federal reserve note, likewise differs from the other four. This note is similar in some particulars to the national-ba ...
... Metal And Seyd The Gold And Silver Behind Paper over-issues United States Notes Or Comp-troller National Bank Notes Federal Reserve Notes CAMERA And BATTLE-FIELD Auditor's How The Federal Reserve Banks ...
Terms matched: 1  - Score: 32 - URL: http://www.oldandsold.com/articles08/money-8.shtml

Currency is something quite different, and may include all credits and money actually used in payments. At the same time, its actual meaning in comme ...
... their payment are the banks which issue them, though the government has taken very efficient measures to secure their payment. IV. Bank credits; that is, ...
Terms matched: 1  - Score: 31 - URL: http://www.oldandsold.com/articles26/economics-24.shtml

Banks not only furnish individuals and corporations with credit, by buying their notes, bonds or stocks, but they perform also the function of taking ...
... frequently used, but the instruments of credit form the basis of practically every large business transaction. It is the duty of the bank to supply the money and ...
Terms matched: 1  - Score: 29 - URL: http://www.oldandsold.com/articles07/career-14.shtml

I DEBATED for some time whether or not to include a chapter on Foreign Exchange in a book of this character. ...
... , a credit might be opened for the American exporter of the cotton, and the exporter would then draw his bill on the bank. In other instances the ...
Terms matched: 1  - Score: 29 - URL: http://www.oldandsold.com/articles09/wallstreet-9.shtml

These banks of an older day have had their defeats as well as their victories. There lies before me a little newspaper, yellowed by age, that was iss ...
... a prevailing opinion that the more we have the fare-well. It was Philadelphia that set New York the example of creating a bank of discount and deposit. The ...
Terms matched: 1  - Score: 26 - URL: http://www.oldandsold.com/articles11/new-york-history-25.shtml

10. Credit
Business is a living thing and its parts are so bound up with one another that we must of necessity use many terms before it is possible to define th ...
... or credit for credit. If A buys goods of B, he may offer the price of the goods in gold or in bank notes, he may give ...
Terms matched: 1  - Score: 25 - URL: http://www.oldandsold.com/articles10/economics-11.shtml

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